Avanza Fonder AB Sells 1,311 Shares of Deere & Company (NYSE:DE)

Avanza Fonder AB lowered its stake in shares of Deere & Company (NYSE:DE) by 5.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 24,962 shares of the industrial products company’s stock after selling 1,311 shares during the quarter. Avanza Fonder AB’s holdings in Deere & Company were worth $11,755,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Pineridge Advisors LLC increased its position in shares of Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 26 shares during the last quarter. Orion Capital Management LLC bought a new position in shares of Deere & Company during the 4th quarter valued at approximately $34,000. Mascagni Wealth Management Inc. bought a new position in shares of Deere & Company during the 4th quarter valued at approximately $39,000. Dogwood Wealth Management LLC bought a new position in shares of Deere & Company during the 4th quarter valued at approximately $42,000. Finally, Sierra Ocean LLC bought a new position in shares of Deere & Company during the 4th quarter valued at approximately $44,000. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the topic of several analyst reports. Raymond James boosted their target price on Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. JPMorgan Chase & Co. boosted their price objective on Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Wall Street Zen cut Deere & Company from a “hold” rating to a “sell” rating in a report on Friday, May 30th. Truist Financial boosted their price objective on Deere & Company from $546.00 to $619.00 and gave the company a “buy” rating in a report on Friday, May 16th. Finally, Citigroup dropped their price objective on Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 30th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $515.19.

Deere & Company Price Performance

Shares of DE stock opened at $521.63 on Tuesday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78. The stock has a market capitalization of $141.27 billion, a price-to-earnings ratio of 23.12, a P/E/G ratio of 2.14 and a beta of 1.09. The stock has a fifty day simple moving average of $480.22 and a two-hundred day simple moving average of $467.10. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The business had revenue of $11.17 billion during the quarter, compared to analysts’ expectations of $10.80 billion. During the same period in the prior year, the business earned $8.53 EPS. The business’s revenue for the quarter was down 17.9% compared to the same quarter last year. On average, analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company’s dividend payout ratio is 31.35%.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.